What would be a typical credit card limit for a 50,000 salary in the UK? We have seen many UK card customers looking for an answer to this question, over recent months.
Your credit card limit is the maximum amount that you can spend using your credit card. A 10000 credit card limit, for example, would allow you to spend up to £10,000 on your credit card. This could be one large purchase, or you could make multiple smaller purchases, up to your 10k limit.
Alternatively, a credit limit of this size on a new 0% card, could allow you to make a larger balance transfer. This transfer could be from one, or more, of your existing credit cards.
£50,000 Credit Card Limit
So if you have a 50,0000 salary, what is your UK credit card limit? Well, that really depends on you as an individual.
The UK credit card limit for a 50,000 salary, will almost certainly be determined by your own personal financial circ*mstances. There is no guarantee that just because you have a £50,000 salary, that you will get the exact same credit limit as anyone else with a 50k income.
Credit Card Limit For 50,000 Salary
The average credit limit in the UK currently lies somewhere between a 3000 credit card limit and a 4000 limit.
The UK card companies have generally been quite cautious with the credit limits they have given to new customers over recent years. This is as a result of the banking crisis of 2008, and the recent coronavirus pandemic
However, we have often seen that some of the UK card companies can still be more generous with their credit limits, than certain other card companies.
All of the following featured creditcards, are in our experience, more likely to be suitable for customers looking for higher limit credit cards:-
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Balance Transfers:
0% for up to 26 months
Balance Transfer Fee:
3.49%
Purchases:
0% for 3 months
Representative APR:
24.9% APR (variable)
More Information >
- 0% for up to 26 months on balance transfers made within 90 days of account opening
- 3.49% balance transfer fee, minimum £5
- 0% on purchases for 3 months from account opening
- Collect M&S points every time you shop anywhere in the world with your card
- One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
- Manage account online
- Annual Fee: None
More Information >
- You are a UK resident
- You have an annual income or pension of at least £6,800
- You are aged 18 or over
- You have not held a credit card with M&S Bank within the previous 12 months
More Information >
Representative Example: 24.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 24.9% p.a. (variable)
No balance transfers allowed to this card from first direct, HSBC or M&S credit cards
HSBC Purchase Plus*
Balance Transfers:
0% for up to 16 months
Balance Transfer Fee:
3.49%
Purchases:
0% for up to 18 months
Representative APR:
24.9% APR (variable)
More Information >
HSBC Purchase Plus*
- 0% interest for up to 16 months on balance transfers made within first 60 days of account opening
- 3.49% balance transfer fee applies (minimum £5)
- 0% interest on purchases for up to 18 months from account opening
- At end of promotional period, balance transfers and purchases will revert to standard variable rate
- Worldwide offers and discounts with HSBC home&Away
- Manage your card online
- Annual Fee: None
More Information >
HSBC Purchase Plus*
- You have an annual income or pension before tax of £6,800 or more
- You are a UK resident
- You are aged 18 or over
- You do not hold an HSBC Basic bank account
More Information >
Representative Example: 24.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 24.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions. You might get different interest rates and promotional periods to those shown here, because these depend on your circ*mstances.
No balance transfers allowed to this card from first direct, HSBC or M&S credit cards
Balance Transfers:
0% for up to 12 months
Balance Transfer Fee:
3.49%
Purchases:
0% for up to 20 months
Representative APR:
24.9% APR (variable)
More Information >
- 0% for up to 12 months on balance transfers made within 90 days of account opening
- 3.49% balance transfer fee, minimum £5
- 0% on purchases for up to 20 months from account opening
- Collect M&S points every time you shop anywhere in the world with your card
- One point for every £1 you spend in M&S and one point for every £5 you spend elsewhere
- Manage account online
- Annual Fee: None
More Information >
- You are a UK resident
- You have an annual income or pension of at least £6,800
- You are aged 18 or over
- You have not held a credit card with M&S Bank within the previous 12 months
More Information >
Representative Example: 24.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 24.9% p.a. (variable)
No balance transfers allowed to this card from first direct, HSBC or M&S credit cards
RBS Longer Balance Transfer
Balance Transfers:
0% for 23 months
Balance Transfer Fee:
3.49%
Purchases:
0% for 3 months
Representative APR:
24.9% APR (variable)
More Information >
RBS Longer Balance Transfer
- 0% for 23 months from account opening on balance transfers made within first 3 months
- 3.49% balance transfer fee
- 0% on purchases for 3 months from account opening
- Lock and unlock your credit card in app
- Manage your card 24/7 online and by telephone banking
- Annual Fee: None
More Information >
RBS Longer Balance Transfer
- You are a UK resident
- You are earning at least £10,000 per year
- You are aged 18 or over
More Information >
Representative Example: 24.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 24.9% p.a. (variable)
No balance transfers allowed to this card from NatWest, RBS or Ulster Bank credit cards
HSBC Balance Transfer*
Balance Transfers:
0% for up to 26 months
Balance Transfer Fee:
3.49%
Purchases:
0% for 3 months
Representative APR:
24.9% APR (variable)
More Information >
HSBC Balance Transfer*
- 0% interest for up to 26 months on balance transfers made within first 60 days of account opening
- 3.49% balance transfer fee applies (minimum £5)
- 0% interest on purchases for 3 months from account opening
- At end of promotional period, balance transfers and purchases will revert to standard variable rate
- Worldwide offers and discounts with HSBC home&Away
- Manage your card online
- Annual Fee: None
More Information >
HSBC Balance Transfer*
- You have an annual income or pension before tax of £6,800 or more
- You are a UK resident
- You are aged 18 or over
- You do not hold an HSBC Basic bank account
More Information >
Representative Example: 24.9% APR representative (variable). Based on an assumed credit limit of £1,200 and a purchase rate of 24.9% p.a. (variable)
Credit is subject to status, affordability and applicable terms and conditions. You might get different interest rates and promotional periods to those shown here, because these depend on your circ*mstances.
No balance transfers allowed to this card from first direct, HSBC or M&S credit cards
Credit Card Limit For 50000 Salary
A credit card limit for a 50000 salary is largely dependant on your own credit history and your current monthly income and expenses.
All of the UK credit card providers have a different process when it comes to deciding your credit card limit. However, the data they use to decide on the amount of your limit is largely the same.
They will all take the following into account:-
- Your annual salary, or pension income
- Your monthly outgoings, such as mortgage, or rent, and other monthly bills
- Your address history
- Any missed payments or bad debt history
- And the amount of credit you already have available to you, from other cards, or loans
The card company will get some of this data from your application form, when you apply for the card. They will also use a credit reference agency to provide additional data about you, and your use of credit.
Choosing a Mastercard credit card, or a Visa credit card, will make no difference to a credit card limit for a 50,000 salary in the UK. Your choice of credit card company, as well as your own financial circ*mstances will be the biggest factor in deciding your overall credit limit.
Mastercard and Visa are simply the payment processors, that allow your credit card to be accepted at millions of shops, restaurants, petrol stations and hotels around the world.
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